HP Hotels, a full-service, third-party hotel management company, has been chosen by Lodging Fund REIT III Inc. to manage their newly acquired Hilton Garden Inn Charlotte North and Hilton Garden Inn Charlotte Pineville properties.
HP had already been managing these properties for many years for another ownership group and alerted Lodging Fund’s sponsor, Legendary Capital, that they would become available as an off-market investment opportunity.
“A deal like this also demonstrates how we add value to a relationship as asset managers, working with ownership groups to help them gauge market trends, determine ongoing valuations and establish transition plans, whether for a portfolio of hotels or individual properties,” said Kerry Ranson, CEO, HP Hotels.
“We look forward to working with Mike Hines, Kerry Ranson, Ed Robison and the entire HP Hotels team,” said Corey Maple, chairman/CEO, Legendary Capital. “HP Hotels is an accomplished, resourceful, and creative property management specialist who completely understands our asset management strategies and objectives; and they have outstanding experience with the Hilton Garden Inn platform over many years. Moreover, Ed Robison of HP Hotels is a former Hilton executive who lives in the backyard of these properties. We know they are in great hands.”
Each of the 112-room, five-story Hilton Garden Inns feature an outdoor pool, fitness center, free WiFi, business center, free parking, 24-hour snack shop, cooked-to-order breakfast and meeting space. Each property will undergo a comprehensive property improvement plan, including interior and exterior renovations.
The Hilton Garden Inn Charlotte North is a mile from Northlake Mall. Uptown Charlotte, U.S. National White Water Rafting Center, Bank of America Stadium and Charlotte Douglas Airport are under 15 miles away. The property features 4,716 sq. ft. of meeting space.
The Hilton Garden Inn Charlotte Pineville is off I-485 within minutes of downtown Charlotte, NarroWay theatre and Carowinds Amusement Park. The light rail is two miles away, and NASCAR Hall of Fame and Charlotte Airport are within 15 miles. The property features the Garden Grille restaurant and 2,340 sq. ft. of meeting space.